NuScale Power (NYSE:SMR) Shares Down 3.9% – Here’s Why

Shares of NuScale Power Corporation (NYSE:SMR) dropped 3.9% during mid-day trading on Tuesday . The company traded as low as $7.80 and last traded at $8.21. 26,977,695 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 30,397,779 shares. The stock had previously closed at $8.54.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SMR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. HSBC assumed coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective on the stock. Barclays reduced their target price on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Truist Financial started coverage on shares of NuScale Power in a research report on Monday, July 13th. They issued a “hold” rating and a $10.00 target price for the company. Finally, The Goldman Sachs Group set a $9.00 price target on shares of NuScale Power in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.15.

NuScale Power Stock Up 13.4%

The company has a market cap of $3.15 billion, a P/E ratio of -2.95 and a beta of 2.24. The company has a 50 day moving average price of $10.08 and a 200-day moving average price of $12.39.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The company had revenue of $0.56 million for the quarter, compared to the consensus estimate of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business’s quarterly revenue was down 95.8% compared to the same quarter last year. On average, research analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC lifted its stake in shares of NuScale Power by 33.5% in the 2nd quarter. Heck Capital Advisors LLC now owns 16,382 shares of the company’s stock worth $164,000 after acquiring an additional 4,115 shares during the period. Handelsbanken Fonder AB increased its stake in shares of NuScale Power by 209.5% during the second quarter. Handelsbanken Fonder AB now owns 108,000 shares of the company’s stock valued at $1,083,000 after acquiring an additional 73,100 shares during the period. Adamsbrown Wealth Consultants LLC bought a new stake in NuScale Power during the second quarter worth approximately $100,000. Hennion & Walsh Asset Management Inc. raised its holdings in NuScale Power by 30.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 84,199 shares of the company’s stock worth $845,000 after purchasing an additional 19,679 shares in the last quarter. Finally, Evanson Financial LLC acquired a new stake in NuScale Power in the second quarter worth approximately $512,000. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Company Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.